Suncoke Energy Partners fka SXCP

[Couch]

Solid SXCP article - I'd say fair value for a buyout has to be at or above $22 for starters.

SunCoke Energy Partners: 14% Yield And Potential Takeout Makes For A Compelling Buy
https://seekingalpha.com/article/4135916-suncoke-energy-partners-14-percent-yield-potential-takeout-makes-compelling-buy?app=1&auth_param=404mr:1d59mrd:23799c1ff5a344eb208946a1e1c67f49&uprof=45

Summary

SXCP owns 4 facilities producing metallurgical coke which is a key input in the steel-making process.

The current yield is sustainable due to long-term take-or-pay contracts covering 100% of SXCP's sales.

Even if SXCP's EBITDA per ton is cut 30% when contracts are renewed between 2020 and 2032, the stock is still worth $21 (+21% upside).

If the coke industry tightens due to closures of competitors' aging plants and SXCP's contracts are renewed at current prices, shares are worth $30 (+72% upside).

The recent change in CEO/Chairman could be a catalyst for parent company SXC to revisit a buy-out of SXCP - this time, at a price that reflects fair value.